Lucintel's Analysis of Global Solar Photovoltaic Industry: Market to Reach US $105 Billion by the End of 2016

IRVING, Texas, Jan. 23, 2012 (GLOBE NEWSWIRE) -- In calendar year 2010, total worldwide solar photovoltaic (PV) system installations grew to 16,568 MW with a value of US $75 billion. The market is anticipated to reach 33,600 MW in 2016 with a 14% CAGR over the next five years. Cumulative installations are forecast to reach 190,800 MW by the end of 2016, with a value of approximately $105 billion representing a CAGR of 28% during 2011-2016.

Lucintel, a leading global management consulting and market research firm, analyzed the solar PV industry and presents its findings in its report, "Growth Opportunities in Solar Photovoltaic Market 2011–2016: Trends, Forecast and Market Share Analysis."

Lucintel's research indicates that the growing inclination toward renewable energy sources to reduce carbon emissions is advancing solar energy around the globe. The favorable trends for high (double-digit) growth in solar PV energy are fueled by the urgent need to reduce fossil fuel dependence for electricity generation. Coupled with increased government incentives and more competitive – or even favorable economics – this movement is expected to continue, and in some (regional) cases accelerate over the next five years. Although the cost disadvantage of solar PV and the availability of other clean energy alternatives such as wind and nuclear pose a serious challenge, solar PV is expected to witness robust growth over the forecast period.

During 2011-2016, the North American and Asia-Pacific (APAC) markets for solar PV are expected to grow significantly. Accordingly, the overall share of North America and APAC in annual PV installation is likely to increase in the coming years.

Based on revised forecasts for solar PV markets, China is expected to be the global leader in annual solar PV installation by 2016. Solar PV capacity installation also is likely to grow significantly in the US during 2011-2016. The annual installation of solar PV in the US is forecast to surpass Germany by 2016 securing the second position globally behind China. Europe installed the largest amount of solar photovoltaic capacity in 2010, an estimated 79% of global annual installation for the year.

In this research report, Lucintel provides trend scenarios and forecast statistics for 2011-2016; details the industry's drivers and challenges; manufacturing capacity for each node in the value chain of the solar PV industry; expansion plans; competitive analysis for solar PV; and installation of solar PV projects during 2011-2016. The report also details forecast for solar PV installation for all four global geographies—APAC, Europe, North America, and the Rest of the World.

For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at Lucintel provides cutting-edge decision support services that help facilitate critical decisions with greater speed, insight, and cost efficiency. To find out more, please visit

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